=+The draft statements of comprehensive income of ARK Limited (ARK), BOAT Limited (BOAT) and CANOE Limited (CANOE) for the year ended 31 December 2003 are as follows: Turnover Cost of sales Gross profit Other operating expenses Operating profit te Investment income Interest payable and similar charges Profit before tax Taxation Profit after tax Dividends paid Retained profit for the year Retained profit at 1 January 2003 Retained profit at 31 December 2003 BOAT €Em 1,260 (504) 756 690 774 CANOE €Em 1,680 630 1,050 544 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING Additional Information 1. On 1 January 1997, ARK purchased 160 million €1 ordinary shares in BOAT for €500 million. The net assets of BOAT at 1 January 1997 comprised: €1 ordinary shares Retained earnings €m 200 325 525